Tax Headroom | Current Year Tax Modeling Tool

Tax Headroom is a current-year tax estimation tool that allows you to model different what-if scenarios to help with tax planning. See how different scenarios can affect your taxes or how much more you can harvest in capital gains, income, business income, Roth conversions, IRA distributions, etc.See how changes to Income, Roth conversions, capital gains, IRA distributions, business income, charitable contributions, etc. affect your taxes, NIIT, IRMAA, and ACA subsidy.

What if?Tax Headroom can help answer some common questions while preparing for your taxes:How much more ordinary income can I realize before hitting the next bracket?How much Long-term capital gains can I harvest at my current tax rate?Will this Roth conversion push me into IRMAA or lose my ACA subsidy?Would a Qualified Charitable Distribution save more than taking the charitable deduction another way?How much estimated tax should I send in now?How will this charitable contribution affect my tax due?

Set Parameters

Set your ages, dependents, and filling status.Enter your income factors and ACA costs.Enter deductions, charitable contributions, business deductions, QCDs, tax credits, etc.

Snapshot View

See a snapshot of your current tax calculations, ACA subsidy status, NIIT, IRMAA, etc.

Explore

See how your tax situation changes as you model changes in Roth conversion, IRA distribution, Business income, Charitable contributions, capital gains harvesting or losses, qualified charitable contributions, and estimated tax payments.Immediately see the impact to tax due, ACA subsidy, etc.

Presets

Quickly see the impact of presets like "Fill 0% LTCG", "Stay under ACA subsidy", "Fill tax bracket", etc.

Why use Tax HeadroomTax Headroom can help identify areas where you can either recognize current-year income and stay at your current tax bracket or what you might be able to change before next year to potentially reduce your tax bill.

App Store, Support, License, and Privacy links below

Frequently Asked QuestionsQ. Is there a fee for the app or any in-app purchases?
A. No. Tax Headroom is completely free. I felt it was important for anyone to be able to answer the same questions I had about what I could do to positively affect my tax situation before the end of the year.Q. Can I model a married couple with this app?
A. Yes. The app supports both single and married filing jointly cases.Q. Does it track my dependents?
A. Yes, you can enter the number of dependents and the ACA household number as well.Q. What can I interactively control so I can see how it impacts my tax situation?
A. You can change immediately see how changes to key factors impact your tax bill and your bottom line. These slider controls include: Roth conversion, IRA distribution, Business income, LTCG harvesting, capital loss harvesting, charitable contributions, qualified charitable distributions (QCDs), and extra payments.Q. Do you include quick presets for common scenarios?
A. Yes. With a tab of a button you can quickly see the impact of filling the 0% LTCG tax bracket, filling the 15% LTCG bracket, staying under the ACA subsidy room, filling your current tax bracket, staying under the IRMAA tier, etc.

Tax Headroom is for educational purposes only. Always consult a professional before taking any action with your taxes or making a decision that could negatively impact your personal outcomes.© omSoft LLC. All rights reserved.